“Unleashing Vibrant Visions: India’s Trailblazing G20 Leadership”

As the sun rose over the G20 horizon, India’s vibrant tapestry took center stage, weaving a harmonious symphony of diplomacy and innovation. With its resolute hand guiding global affairs, India’s presidency breathed life into dormant aspirations, fostering unity amidst diversity and sparking a kaleidoscope of transformative possibilities for a brighter future. But before engaging into India’s G20 presidency let’s have a little overview about G20 and its countries.

The Group of G20 (G20) comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, and the United States along with the European Union.  G20 members currently account for more than 80% of world GDP, 75% of global trade, and 60% of the global population. 

Origin and Evolution

The G20 was founded in 1999 after the Asian financial crisis as a forum for the Finance Ministers and Central Bank Governors to discuss global economic and financial issues. The G20 was later upgraded to the level of Heads of State/Government and was designated the “premier forum for international economic cooperation”. Since 2011, the G20 Summit is held annually, under the leadership of a rotating Presidency. The G20 initially focused largely on broad macroeconomic policy, but it has since expanded its ambit to include trade, climate change, sustainable development, energy, environment, climate change, anti-corruption etc.  

Organizational Structure

The G20 does not have a charter or a secretariat. The Presidency, aided by the countries holding the Presidency before and after it (Troika), is responsible for setting the agenda of each year’s Summit. The G20 process is led by the Sherpas of member countries, who are personal emissaries of the Leaders. The Sherpas, oversee negotiations over the course of the year, discussing agenda items for the Summit and coordinating the substantive work of the G20.

The G20’s work is divided into two tracks: the Finance Track and the Sherpa Track. Within the two tracks, there are thematically oriented working groups in which representatives from the relevant ministries of the members as well as from invited/guest countries and various international organizations participate. The working groups meet regularly throughout the term of each Presidency.  The agenda is also influenced by current economic developments as well as by the tasks and goals agreed upon in previous years. The G20 holds a multi-year mandate to ensure institutional continuity.

Participation by Non-Members

There has been a tradition of inviting a few non-G20 member countries as guests as well international organizations. These countries vary from year to year, except Spain which is a permanent invitee.  Regular participants in the G20 process are the International Monetary Fund (IMF), the World Bank, the United Nations (UN), the Organization for Economic Co-operation and Development (OECD), the World Trade Organization (WTO), the International Labor Organization (ILO) and the Financial Stability Board (FSB), as well as the countries holding the presidencies of the regional organizations such as ASEAN, the African Union, and the development program NEPAD. The incumbent Presidency may invite other countries and 10 so far, G20 meetings and Summits. 

The Group of 20 is a non-treaty-based organization of 19 countries and the EU that traces its origins to the Asian financial crisis of 1997-99, when the G7 convened a meeting of finance ministers of a select group of countries and central bank governors from around the world to find ways to arrest the meltdown threatening to engulf the world.

The broad objective of this grouping was to shore up the world’s economic and financial stability. The presidency of G-20 for the year 2023 will be taken up by India and the theme is “One Earth, One Family, One Future” coupled with official symbol of the lotus.

India as a representative of Global South:

Recently, while presenting India’s statement at the United Nations General Assembly, External Affairs Minister remarked that the global South was the most impacted by the “sharp deterioration in the international landscape”.

Raise global issues which affects developing countries: As the voice of developing countries India will try to work with other G20 members to address serious issues of debt, of economic growth, terrorism, counterfeit currency food and energy security and particularly, of environment.

Leverage Digital Infrastructure: There is rise of digital divide in the developing world indicated with India’s presidency it could portray itself as a leader in transferring this technology to other countries, as it has the world class digital infrastructure that could be shared with the world.

Portray itself as global peacemaker: Further, the G20 presidency could provide an opportunity to India to assume the mantle of a peacemaker on various global issues like Russia-Ukraine war, rising tension in Indo-pacific etc.

At present, the United Nations lacks credibility, major powers like the US and the Europeans have taken sides in the proxy war in Ukraine, China remains a vicarious supporter of Russia. That leaves only India, which has taken a consistent and objective view of the developments while maintaining good relations with the belligerents and their supporters. India has the credibility to work behind the scenes for an end to the war in Ukraine.

Conclusion

With global supply chains in ruins and crisis of essential goods is brewing all over the world, India can leverage its position as a leader of global south with the focus on the issues like food security, digitization, healthcare etc.